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Valkyrie and ARK 21Shares have recently submitted filings for spot Bitcoin ETFs, adding to the growing list of contenders seeking approval from the U.S. Securities and Exchange Commission. Valkyrie and ARK 21Shares have filed for 8-A registration of securities for a spot Bitcoin ETF with the SEC on Jan. 4, following the footsteps of Grayscale and VanEck earlier today and Fidelity, who filed yesterday. Lots of Bitcoin ETF issuers have amended their 8-A forms in recent weeks… But what is an 8-A form…. SEC form 8-A is required by the Securities and Exchange Commission (#SEC) from companies that are seeking to issue securities . And it must be submitted before securities … — LondonCryptoClub (@LDNCryptoClub) January 4, 2024 You might also like: Matrixport case: How news and rumors impact crypto market Valkyrie and ARK 21Shares’s official filings today suggest a solid chance of approvals being pushed through imminently as the two companies compete with others for...

A U.S. federal judge has ruled in favor of the Securities and Exchange Commission (SEC) in a case against Terraform Labs and its former CEO Do Kwon. According to a U.S. court’s decision, Terraform Labs and Do Kwon sold two unregistered securities , referring to the LUNA, UST, and MIR tokens. District Court Judge Jed Rakoff made the decision on Dec. 28. The court cited Kwon’s previous commentary, which stated that LUNA holders simply need to “[s]it back and watch [him] kick-ass” to conclude that LUNA meets the Howey test. Concerning the MIR token, the court held that the defendants could not seriously dispute that they caused MIR holders to expect profits from a joint enterprise based on Terraform’s efforts to develop, maintain, and evolve the Mirror Protocol. “In other words, that MIR passes the Howey test with flying colors.” Court’s filing You might also like: Terraform Labs and SEC agree on confidentiality terms as trial ...

The U.K. introduced regulation that enables the Financial Conduct Authority and the Bank of England to oversee a digital securities sandbox for testing tokenized securities and distributed ledger technology. Effective Jan. 8, this initiative allows the Financial Conduct Authority (FCA) and the Bank of England to oversee a controlled testing environment for tokenized securities. The sandbox concept permits companies to experiment with innovative financial solutions under regulatory supervision. The digital securities sandbox (DSS) focus extends beyond tokenized securities, encompassing the exploration of distributed ledger technology to digitize traditional securities. With global financial institutions increasingly embracing asset tokenization, U.K. regulators are taking proactive measures to comprehend and regulate this evolving landscape. Firms participating in the DSS will be subject to tailored regulations if existing ones impede progress, as outlined in the accompanying ...

Amid Genesis going through its first bankruptcy hearings, a group of creditors have slapped the firm with a new class action lawsuit. Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit. A group of Genesis creditors filed a securities class action (SCA) lawsuit against DCG and its founder and CEO Barry Silbert, alleging violations of the federal securities laws. The lawsuit was filed by Connecticut-based Law firm Silver Golub & Teitell (SGT) on behalf of individuals and entities who entered into digital asset lending agreements with Genesis. The Law firm is known for handling major industry lawsuit s, including a class action suit filed against Coinbase in March 2022. The new complaint against DCG and Silbert alleges that Genesis engaged in an unregistered securities offering in violation of securities laws by executing lending agreements involving securities without...